Common use of ACTUARIAL AND ACCOUNTING METHODOLOGIES AND ASSUMPTIONS Clause in Contracts

ACTUARIAL AND ACCOUNTING METHODOLOGIES AND ASSUMPTIONS. For purposes of this Agreement, unless specifically indicated otherwise: the value of plan assets shall be the value established for purposes of audited financial statements of the relevant plan or trust for the period ending on the date as of which the valuation is to be made. ElderCare liabilities relating to, arising out of or resulting from the status of ElderCare and the ElderCare Entities as Participating Companies in Parent Plans, as provided for in Section 2.2 and all accruals relating thereto shall be determined by Parent using actuarial assumptions and methodologies, including, without limitation, assumptions with respect to demographics, medical trends and other relevant factors, determined by Parent in a manner consistent with Parent's practice as in effect immediately before the Distribution Date and in conformance with the generally accepted actuarial principles promulgated by the American Academy of Actuaries, the Code, ERISA, and/or generally accepted accounting principles, as applicable, in each case as interpreted by Parent consistent with Parent's past practice. Except as otherwise contemplated by this Agreement or as required by law, all determinations as to the amount or valuation of any assets of or relating to any Parent Plan, whether or not such assets are being transferred to an ElderCare Plan, shall be made pursuant to procedures to be established by the parties before the Distribution Date.